The Company also announced that Micky Pant, 57, was promoted to Chief Executive Officer of YRI, replacing Graham Allan, 56, who is retiring from the Company early in 2012.
Yum! Brands, Inc. (NYSE: YUM) today announced it has signed definitive agreements to sell Long John Silvers, Inc. and A&W Restaurants, Inc. to two separate buyers led by key franchisee leaders. Both sales are subject to customary closing conditions.
The quarterly cash dividend will increase from $0.25 to $0.285 per share and will be effective with the dividend payment to be distributed on November 4, 2011 to shareholders of record at the close of business on October 14, 2011. This increase raises the annual dividend rate to $1.14 a share.